{"id":"SEC-23-015","kind":"order","level":"sector-regulator","jurisdiction":"North Dakota","state":"ND","metro":"","industry":"23","agency":"","eco":"","issuer":"NDIC Department of Mineral Resources, Oil and Gas Division","authority":"As SEC-23-013","instrument":"Director\u0027s Cut (June 12, 2020; April 2020 production data)","title":"Director\u0027s Cut, June 12, 2020","dateIssued":"2020-06-12","effective":"n/a","end":"n/a","startDate":"2020-06-12","endDate":"2020-06-30","quarters":["2020Q2"],"types":["OTHER"],"addressees":["the Commission; operators; the public"],"clause":"Rig Count 52... Waiting on completion 85... Industry projected 50-75% reduction in rig count May - June and the count is already down 82% with 1-2 more rig [releases expected]. The number of well completions has been very volatile and has dropped dramatically since April as the number of active completion crews decreasing from 25 to 1.... The OPEC+ agreement to cut 9.7 million barrels per day has been extended through July.","enforcement":"n/a","functions":["DR","SV","EX","WF"],"notes":"Reports April 2020 production; the month of the negative WTI settlement and of the deepest curtailment.","sourceUrl":"https://www.dmr.nd.gov/oilgas/directorscut/directorscut-2020-06-12.pdf","snapshot":"","fileExists":true,"fileBytes":306101,"grade":"primary","character":"","description":"","collection":"SEC-23","url":"/library/SEC-23-015","exhibitUrl":"/exhibit/SEC-23-015","citation":"NDIC Department of Mineral Resources, Oil and Gas Division, Director\u0027s Cut (June 12, 2020; April 2020 production data) (Ex. SEC-23-015)","stateName":"North Dakota","related":["SEC-23-014","SEC-23-016"]}